Search Results for: legal
Why the EU says Apple must pay Ireland $14.5 billion in tax
September 1st, 2016
The European Commission (EC) ordered Apple Inc. to pay Ireland unpaid taxes of up to 13 billion euros ($14.5 billion) on Tuesday as it ruled the firm had received illegal state aid. What is the EC alleging? The European ...
Cashless payments get easier in the UAE
September 1st, 2016
Making payments through mobile phones is not a dream anymore, as sixteen banks have become equity partners in an entity which will own and operate mWallet platform. The mWallet or mobile wallet platform is the financial component of the UAE Government’s Smart ...
CySec appproved a new Cyprus Investment Firm
September 1st, 2016
The Cyprus Securities and Exchange Commission (CySec), the financial regulatory authority of Cyprus, has issued an announcement to inform that “TG Traderglobal Ltd“ has successfully obtained the CySec licence for CIF (Cyprus Investment Firm). The firm is now authorised ...
PwC fined £2.3m by FRC
September 1st, 2016
Disciplinary case relating to PwC’s audits of Cattles plc and Welcome Financial Services Limited The Financial Reporting Council (FRC) announced the outcome of the disciplinary case relating to PricewaterhouseCoopers LLP (PwC) and its audits of the financial statements of Cattles ...
Cheers! Lawyers net £200m from SABMiller deal
September 1st, 2016
Law firms will bank almost £200m from advising on the third-largest corporate takeover ever – brewer SABMiller’s £79bn acquisition by Budweiser owner Anheuser-Busch InBev. In total, the two companies will pay an astonishing $2bn in fees and taxes to ...
Longstanding Marks & Spencer GC announces retirement
August 31st, 2016
One of the longest-serving leaders in the UK in-house legal sector has decided it’s time to retire. Marks & Spencer general counsel Robert Ivens is retiring from the company he has called home for more than 30 years. Mr ...
Authorities pledge support, to issue rules for fintech
August 31st, 2016
Financial regulators are readying rules that will target financial technology businesses without limiting their room for growth as President Joko “Jokowi” Widodo pledges support for the infant industry. “I urge all parties to participate in fintech, IT and financial ...
EU Apple Tax Ruling Stirs Fears of Revenue Loss in U.S.
August 31st, 2016
American politicians have spent years salivating over U.S. companies’ stockpile of untaxed foreign profits, now more than $2 trillion and growing. Europe got to that money pot first. The European Commission’s ruling Tuesday that Apple Inc. must pay $14.5 billion in back ...
Apple should repay Ireland €13bn, European Commission rules
August 30th, 2016
Ireland should recover up to €13bn (£11bn) from Apple in back taxes, the European Commission has ruled. After a three-year investigation, it has concluded that the US firm’s Irish tax benefits are illegal. The Commission said Ireland enabled the company ...
New digital currency Monero spikes after giving criminals more secrecy
August 30th, 2016
Forget Bitcoin. There’s a new digital currency that is surging as online drug-dealers begin adopting it to conduct business with more anonymity. The two-year-old currency Monero has more than quadrupled this month after gaining support from prominent websites that ...
